By Bob Rinear, The International Forecaster:
Another week has passed and like the previous ones there was no shortage of things that make you check your sanity with a dipstick. But this week in particular was “extra special” considering it was a week in which we’d get two of the more powerful information releases. First up were of course the Federal Reserve and their monetary policy stance. What would they be saying? What would they be doing? Then of course later in the week we had the “jobs” report. The non farm payroll report that everyone waits with baited breath for.
So first off let us take a peek into the world of Ben Bernanke. Well, Ben Bernanke is supposed to be an academic. He’s supposedly very bright, and has the alphabet soup of letters behind his name to show you his achievements. He says that his area of expertise was the “Great Depression” and that after years of study, he figured out what they did wrong and if we ever had a depression he could fix it. Hmm, mighty lofty talk, no? Yes.
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